Brazilian producers are negotiating exports of wire rod of the mesh grade quality to the US East coast, in a reference range of $575/mt to $590/mt CFR, the same as last week, a local market source told SteelOrbis.
For exports to countries in South America, the range was also stable at $600/mt to $615/mt, CFR conditions for the mesh grade product. Higher logistics costs, derived from road transportation to Uruguay, Argentina and Chile, are the reason for higher price levels.
In October, Brazil exported 34,200 mt of wire rod, against 17,700 mt in September. ArcelorMittal exported 19,200 mt at $499/mt, while Gerdau exported 15,000 mt at $506/mt, both FOB conditions and price deals probably closed in August. The main destinations were Latin America (29,400 mt at $494/mt FOB), Asia (4,400 mt at $525/mt FOB) and Canada (400 mt at $856/mt FOB).